9911796707
TMI Blog2019 (9) TMI 1596X X X X Extracts X X X X X X X X Extracts X X X X ..... entitled to receive a sum of ₹ 2,82,000/- which is to be paid by the Appellant/'Corporate Debtor' within three weeks failing which, it will be open to the IRP to bring the fact to the notice of this Appellate Tribunal for appropriate orders. In view of the settlement reached between the parties in exercise of power conferred under Rule 11 of NCLAT Rules, 2016, the impugned order d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counsel for the Appellant submits that the matter has been settled with the Respondent - 'Operational Creditor'. Earlier, the 'Corporate Debtor had paid the sum of ₹ 3 lakhs just before the admission of application u/s. 9 of the 'I B' Code. Rest of the amount of ₹ 4,26,672/- which was the amount shown in the Demand Notice has been paid on 11th September, 2019. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... P at ₹ 1,50,000/- for the total period. Therefore, Mr. Anurag Nirbhaya will be entitled to receive a sum of ₹ 2,82,000/- which is to be paid by the Appellant/'Corporate Debtor' within three weeks failing which, it will be open to the IRP to bring the aforesaid fact to the notice of this Appellate Tribunal for appropriate orders. 6. In view of the settlement reached between t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns all such orders and actions are declared illegal and are set aside. The application preferred by the Respondent under Section 9 of the ''I B Code' is dismissed. The Adjudicating Authority will now close the proceeding. The 'Corporate Debtor' is released from all the rigour of law and is allowed to function independently through its Board of Directors from immediate effect. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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